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Value Fund
Overview
Objective
Strategy
Invests in a diversified portfolio of equity securities of companies that represent excellent value relative to their current price. The Fund seeks a higher return than the market index over time as the stocks it purchases rise in price to more normal valuations.
The Management Team
The Fund is managed by the Equity Strategy Team, a group of senior-level investment professionals who average 38 years of experience.
Risk/Return
LOW - - - • - - - HIGH
In general, greater returns are associated with greater risks.
Fund Statistics
| Inception Date | 03/03/97 |
|---|---|
| Ticker Symbol | CFVLX |
| Cusip | 200626828 |
| Minimum Initial Investment | $1,000 |
Commentary
Value stocks saw a small pull back in the fourth quarter to end the year. Many investors were focused throughout the quarter on the Federal Reserve rate cuts and their accompanying commentary. The election also proceeded smoothly with many parts of the markets reacting favorably to the outcome. The Commerce Value Fund’s return of -2.07% performed in line with the Russell 1000 Value Index return of -1.98%.
Stock selection detracted from the Fund’s performance. The Fund’s strongest contributors were Apollo Global Management Inc (0.00%), Broadcom inc. (2.76%), Morgan Stanley (1.95%), returning 42.78%, 34.74%, and 21.57%, respectively. The Fund’s top detractors were Stanley Black & Decker, Inc. (1.18%), Elevance Health, Inc. (0.00%), and Amgen Inc. (1.89%), returning -26.43%, -26.21%, and -18.46%, respectively.
The Fund’s sector allocation added to performance for the quarter. The Fund’s 1.19% overweight in the Financials sector, which returned 7.13%, added to performance as it was a best performing sector. The Index had a 22.40% weight in the Financials sector. However, the Fund’s 0.76% underweight position in the Communication Services sector hurt performance as it was a stronger sector, gaining 2.37% for the quarter. The Index had an 4.28% weight in the Communication Services sector.
| Total Fund Assets as of 12/31/2024 | $255,022,144 |
|---|---|
| Net Asset Value1 | $32.08 |
| Asset Allocation | |
| Equities | 99.4% |
| Cash | 0.6% |
| Weighted Average Market Capitalization | 183.9 Billion |
Holdings
Top Ten Equity Holdings2 as of 12/31/2024
| JP Morgan Chase & Company | 3.0% |
|---|---|
| iShares Russell 1000 Value | 2.9% |
| Chevron Corporation | 2.8% |
| Broadcom Inc | 2.8% |
| Duke Energy Corporation | 2.4% |
| Verizon Communications | 2.4% |
| Abbvie Inc | 2.0% |
| Blackrock Finance Inc | 2.0% |
| Cisco Systems Inc | 2.0% |
| Merck & Company Inc | 2.0% |
Footnotes:
1. The Net Asset Value represents the assets of the fund (ex dividend) by the total number of shares.
2. The composition of the portfolio is subject to change in the future.
3. The Russell 1000 Value Index is an unmanaged index that measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values. The Index figures do not reflect any fees or expenses.
Portfolio Holdings
The Fund is subject to market risk so that the value of the securities in which it invests may go up or down in response to the prospects of individual companies, particular industry sectors and/or general economic conditions.
Holdings and allocations shown are unaudited, and may not be representative of current or future investments. Holdings and allocations may not include the Fund's entire investment portfolio, which may change at any time. Fund holdings should not be relied on in making investment decisions and should not be construed as research or investment advice regarding particular securities.
Commerce Value Holdings
A prospectus for the Commerce Funds containing more complete information may be obtained by calling 1-800-995-6365 or by downloading it from this website. Please consider a Fund's objectives, risks, and charges and expenses, and read the prospectus carefully before investing. The prospectus contains this and other information about the Fund.
The mutual funds referred to in this Web site are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectus contains more complete information about the funds, including charges and expenses, and should be read carefully before investing.
The method of calculation of the 30-Day Standardized Subsidized Yield is mandated by the Securities and Exchange Commission and is determined by dividing the net investment income per share earned during the last 30 days of the period by the maximum public offering price (“POP”) per share on the last day of the period. This number is then annualized. The 30-Day Standardized Subsidized Yield reflects fee waivers and/or expense reimbursements recorded by the Fund during the period. Without waivers and/or reimbursements, yields would be reduced. This yield does not necessarily reflect income actually earned and distributed by the Fund and, therefore, may not be correlated with the dividends or other distributions paid to shareholders. The 30-Day Standardized Unsubsidized Yield does not adjust for any fee waivers and/ or expense reimbursements in effect. If the Fund does not incur any fee waivers and/or expense reimbursements during the period, the 30-Day Standard Subsidized Yield and 30-Day Standardized Unsubsidized Yield will be identical.